As a US permanent resident (Norwegian citizen) moving to Norway permanently, I have a fully vested 401k. Should I roll it over to an IRA and keep the account open as a Norwegian citizen to receive distributions at 59 1/2, or take an early distribution and pay the 10% penalty plus federal and state income taxes? How will this be affected by my status as a nonresident alien and Norwegian tax laws?

July 10th, 2024

My daughter, who has severe disabilities and is 21 years old, receives a monthly SSI payment for her to apply towards her room and board here at home. Am I supposed to claim this as income for tax purposes? Since I don't receive an IRS form regarding it, it didn't cross my mind that I might need to claim it as income.

December 10th, 2023

I'm a Canadian citizen living in the USA since 04/2014 with a temporary work visa. I'm selling my house in Canada. What are the tax implications of bringing my money to the US to buy a house here? Does my residency status change in the US? I understand it does in Canada. Do I have to pay any taxes if I sell the house in the US and take my money back to Canada?

February 17th, 2023

My fiancée, who is Italian and will soon obtain US residency, has inherited 37.5 kilos of gold bullion in Ghana, West Africa. What are the tax implications and import fees when shipping the gold to the United States?

December 12th, 2024

I'm 19 years old and I need help on how to pay my taxes. I own a small gardening company as a sole proprietorship with 3 part-time employees, including myself. How do I start paying my taxes and improve my tax situation?

May 7th, 2024